Bluerock Residential Growth REIT, Inc. (NYSEMKT:BRG) recently held an IPO on 4/02/2014 selling 3,448,276 shares of Class A common stock at $14.50 per share. The net proceeds of the offering were approximately $44.4 million after deducting underwriting discounts and commissions and estimated offering expenses. The shares closed at $13.21 as of 5/16/14 and have a total performance of (8.9%) since inception.
The company released the results of its first quarter ended 3/31/2014 on 5/15/2014. BRG reported the following for the quarter:
· TOTAL REV'S: $3.26MM (+8% Y/Y)
· TOTAL EXP'S: $3.38MM (-6.21% Y/Y)
· OPERATING LOSS: 128K (-75% Y/Y)
· NET LOSS: $1.04MM (-14% Y/Y)
· $3.1MM IN CASH AVAILABLE
Who is Bluerock Residential Growth REIT, Inc?
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